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<v Speaker 1>Hey, everybody, Welcome into The Thinking Crypto Podcasts, your home

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<v Speaker 1>for cryptocurrency news and interviews. I'm your host, Tony Edward.

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<v Speaker 1>On your way in. Please let that subscribe button as

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<v Speaker 1>well as the thumbs up button and leave a common blow.

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<v Speaker 1>If you're listening on a podcast platform such as Spotify

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<v Speaker 1>or Apple, please leave a five star rating and review. Folks,

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<v Speaker 1>I'm sure many of you heard the FED has cut

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<v Speaker 1>the interest rates by twenty five basis points. This was

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<v Speaker 1>expected the FED features and many market participants expected this.

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<v Speaker 1>Now we're not seeing any action in the markets, which

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<v Speaker 1>kind of makes sense because, as I've been telling you guys,

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<v Speaker 1>this is not some fundamental market thing. I think it's

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<v Speaker 1>good from a psychological standpoint for retail, but for the

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<v Speaker 1>markets to actually get going, this is not the catalyst,

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<v Speaker 1>per se. But what is, and as I've been sharing

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<v Speaker 1>with you guys, global liquidity has broken that down trend.

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<v Speaker 1>It is hitting new all time highs and the markets

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<v Speaker 1>are following, of course, so we got to just let

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<v Speaker 1>the markets do their thing. I've been saying there could

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<v Speaker 1>be one more flesh out before we start rallying, but

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<v Speaker 1>I'm expecting the second half of September which you know,

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<v Speaker 1>we're past the middle of the month to be better,

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<v Speaker 1>I think we start climbing after maybe a flush out,

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<v Speaker 1>and then October we start hitting new highs. We got

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<v Speaker 1>a lot of big narratives lined up, like cryptal legislation

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<v Speaker 1>and much more so stay patient, guys, don't be emotional,

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<v Speaker 1>be educated. We're watching the different metrics and signals and

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<v Speaker 1>we're still in a bull market, but we got huge news,

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<v Speaker 1>you know, speaking of narratives. And here Charles Hoskinson, founder

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<v Speaker 1>of Cardono, said today, great meeting today XRP Nation. The

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<v Speaker 1>Ripple folks did really well, as did A sixteen Z.

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<v Speaker 1>A lot more work to do, but great progress is

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<v Speaker 1>being made on bipartisan legislation being passed this year. What

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<v Speaker 1>is he talking about, Well, there was a banking GOP

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<v Speaker 1>roundtable that was held this morning and in addition to

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<v Speaker 1>Charles's Hawsinson folks from Ripple, A sixteen Z and Kraken

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<v Speaker 1>and coinbas Multi coincap Paradigmic Circle, we're also in attendance.

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<v Speaker 1>The meeting lasted about an hour and a half and

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<v Speaker 1>focus on refining language in the Market Structure draft. So

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<v Speaker 1>of course the market Structure bill is named the Clarity Act,

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<v Speaker 1>and that is being worked on in the Senate right now.

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<v Speaker 1>It has to go through its different hurdles, of course,

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<v Speaker 1>and we're hoping this thing can get pass late October,

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<v Speaker 1>maybe into early November. This is what I'm hearing from

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<v Speaker 1>people in DC. I'm actually going to be interviewing Congressman

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<v Speaker 1>tom Ember tomorrow, so I'll try to get you, guys,

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<v Speaker 1>you know the details directly from the sources here. But

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<v Speaker 1>great to see the industry weighing in on these bills

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<v Speaker 1>and pushing Congress to do the right thing here and

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<v Speaker 1>making sure the language is correct. So this is very

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<v Speaker 1>bullish news. And Charles giving a bit of a shout

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<v Speaker 1>out here to the XRP Army because he's had a

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<v Speaker 1>lot of battles with them over the years. But great

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<v Speaker 1>to see the industry coming together. Now. Look at this news.

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<v Speaker 1>The SEC makes Spot crypto ETF listing process easier, approves

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<v Speaker 1>gray scales, large cap crypto fund. This is huge updates, folks.

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<v Speaker 1>Let me give you the details here. So the US

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<v Speaker 1>SEC on Wednesday approve a set of rules for exchanges

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<v Speaker 1>to list exchange traded products holding Spot commodities, including cryptocurrencies,

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<v Speaker 1>without requiring the agency's individual review time. The decision will

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<v Speaker 1>enable exchanges to proceed with the listing of proposed ETFs

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<v Speaker 1>by sidestepping the often lengthy nineteen B rule filing process

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<v Speaker 1>that can take up to two hundred and forty days

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<v Speaker 1>and requires the SEC to actively approve or disapprove an ETF.

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<v Speaker 1>This is huge news. It's going to speed up the

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<v Speaker 1>process and we can see more all coined ETFs get approved,

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<v Speaker 1>so essentially the process will be more streamlined than before.

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<v Speaker 1>ETF issuers will approach exchanges as that New York Stock

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<v Speaker 1>Exchange CBOE with a product idea and desire to list

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<v Speaker 1>their ETF. If the proposed strategy token or combination of

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<v Speaker 1>tokens of the issuers meet the generic listing standard, then

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<v Speaker 1>the exchange can proceed with the listing of the ETF. Again,

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<v Speaker 1>very bullish for the future outlook of all coin ets.

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<v Speaker 1>SEC chair Paul Atkins said the decision was aimed at

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<v Speaker 1>reducing barriers to accessing digital asset products in regulated US markets.

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<v Speaker 1>Here's a quote. By approving these generic listening standards, we

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<v Speaker 1>are ensuring that our capital markets remain the best place

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<v Speaker 1>in the world to engage in the cutting edge innovation

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<v Speaker 1>of digital assets. Alongside the rule change, the agency signed

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<v Speaker 1>off on the Grayscale Large Cap Fund, which tracks the

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<v Speaker 1>following assets Bitcoin, Etheroreum, XRP, Solana, and Cardano. Very bullish news,

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<v Speaker 1>and it improves the prospects of the XRP and Solana

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<v Speaker 1>news to be approved. So, folks, this is bullish. We

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<v Speaker 1>are headed towards the XRP, Salona and other all coin

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<v Speaker 1>ETF approvals. The SEC is making it easier, folks. I

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<v Speaker 1>will be interviewing Commissioner Hester Purse next week. She's going

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<v Speaker 1>to be in my studio in New York City, so

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<v Speaker 1>we're gonna spend some time going over news like this

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<v Speaker 1>and what's the SEC's outlook and next steps and much more.

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<v Speaker 1>But guys, I mean needless to say, this is so bullish.

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<v Speaker 1>Now more bullish news. Rex Osprey is going to launch

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<v Speaker 1>the first US listed ETFs, offering spot exposure to XRP

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<v Speaker 1>and dogecoin tomorrow. Now many of you know we've been

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<v Speaker 1>talking about this. They're doing it in a different way.

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<v Speaker 1>They're using the nineteen forties Act where you can set

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<v Speaker 1>it up as a c corps, So it's not like

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<v Speaker 1>a true spot ETF, not like the current bitcoinery theorem ETF.

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<v Speaker 1>This is a way for them to bypass the current

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<v Speaker 1>long process to get these ETFs live. What we've seen

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<v Speaker 1>those rex osprey, I think they did it for Solona.

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<v Speaker 1>They are trying to convert it to the nineteen thirty

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<v Speaker 1>three set up for Solana, So I think this is

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<v Speaker 1>a smart move on. They're part of get it on

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<v Speaker 1>the market, be the first right, and then try to

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<v Speaker 1>convert it. But you know, I don't know how much

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<v Speaker 1>demand they're going to get because they're not a huge brand,

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<v Speaker 1>they're not black Rock, they'reenough fidelity, they're not bit wise,

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<v Speaker 1>and so on and so forth. So let's see. But

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<v Speaker 1>it's still a big win, right folks. And in addition

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<v Speaker 1>to these ETFs going live, specifically XRP, the CME is

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<v Speaker 1>set to list options for XRP futures on October thirteenth.

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<v Speaker 1>We've seen that the XRP futures listed on the CME

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<v Speaker 1>have been breaking records, and one of the requirements the

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<v Speaker 1>SEC has been looking for is having a futures market live,

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<v Speaker 1>whether it be CME or coinbase or whatever else, because

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<v Speaker 1>they require this for bitcoin and e theorem. So both

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<v Speaker 1>XRP and Salona features will have options on the CME

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<v Speaker 1>on October thirteenth, so this is this bodes well once

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<v Speaker 1>again for the approval of the XRPN salonaspod ets, which

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<v Speaker 1>I think will the first out of the all coin

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<v Speaker 1>group to get approved. And one of the things I've

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<v Speaker 1>been telling people is, look, a lot of folks are

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<v Speaker 1>filing for all coin ETFs, but there's not futures out there,

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<v Speaker 1>so just make sure you set your expectations. The XRP

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<v Speaker 1>and Solana tokens have features markets, especially on the CME,

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<v Speaker 1>so very bullish needs for XRP and Solana and things

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<v Speaker 1>are heating up here. I love what I'm seeing, folks.

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<v Speaker 1>I love what I'm seeing. Now a little bit more

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<v Speaker 1>details or context to the dosee coin and XRP ETFs

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<v Speaker 1>that are going live tomorrow from Bloomberg Intelligence analyst Jane Seyfert.

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<v Speaker 1>He wrote on x that the funds aren't pure spot products.

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<v Speaker 1>Instead their structure to hold XRP and doge directly while

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<v Speaker 1>also investing in other spot ets from outside the US

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<v Speaker 1>to achieve exposure. Their filings also include language that would

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<v Speaker 1>allow the use of derivatives for exposure if needed. Those

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<v Speaker 1>seyfert emphasized that this is not the primary approach. So

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<v Speaker 1>once again, this is under the nineteen forties Act versus

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<v Speaker 1>nineteen thirty three, which the majority of filers are looking

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<v Speaker 1>to get. So very bullish news here for XRP, Solana, dogecoin. Look,

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<v Speaker 1>I'm not a doge coin holder, but you know, certainly

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<v Speaker 1>this is going to help with the narrative and the

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<v Speaker 1>demand from retail and much more so. We're still in

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<v Speaker 1>this bullmarket. We still got ways to go. We haven't

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<v Speaker 1>hit the parabolic euphoric phase yet, but all of these

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<v Speaker 1>things are going to lead us to that, folks, quick

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<v Speaker 1>word from our sponsor, and that is Uphold. Uphold is

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<v Speaker 1>a great platform where you can buy bitcoin, XRP, dogecoin, Solana,

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<v Speaker 1>and over three hundred plus crypto assets. I've been a

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<v Speaker 1>user of Uphold since twenty eighteen. They're one of my

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<v Speaker 1>go to exchanges. Never had any issues with them, never

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<v Speaker 1>had any problems. And folks, they also offer staking on

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<v Speaker 1>twenty plus crypto assets, so they've added staking again just

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<v Speaker 1>like many other platforms. They are also one hundred percent reserve.

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<v Speaker 1>They don't commingle or lend out your crypto assets. You

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<v Speaker 1>can review their transparency report on their website. They also

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<v Speaker 1>have a great rewards program where you can earn up

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<v Speaker 1>to five point two five percent on stable coins and

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<v Speaker 1>this reward program also gives you twenty four hour early

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<v Speaker 1>access to new tokens that they list. The stable coins

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<v Speaker 1>they support includes ripples, r L, USD where you can

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<v Speaker 1>earn up to five percent there and USBC where you

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<v Speaker 1>can earn it the five point two five percent there.

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<v Speaker 1>And to participate, you simply have to open the app

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<v Speaker 1>once per month, deposit fifty dollars once per month, and

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<v Speaker 1>trade fifty dollars once per month. Very simple, very easy,

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<v Speaker 1>and you can fit right into your dollar cost averaging strategy.

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<v Speaker 1>So folks check out Uphold once again. Great platform and

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<v Speaker 1>all the links will be in a description. Now this

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<v Speaker 1>is interesting. Circle has expanded USDC to the XDC network.

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<v Speaker 1>So I know some of my viewers and listeners, you

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<v Speaker 1>guys hold XDC in your portfolio. I personally don't, not

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<v Speaker 1>that I'm against XDC, it's just I can't. It's not

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<v Speaker 1>possible to hold every token right and you don't want

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<v Speaker 1>to spread yourself too thin. But XDC network is a

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<v Speaker 1>layer one blockchain which has been around since twenty nineteen.

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<v Speaker 1>It's EVM compared so great to see USDC expanding to

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<v Speaker 1>other blockchains and XDC is getting that stable coin volume,

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<v Speaker 1>so this is really great. Moving ahead, we are getting

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<v Speaker 1>some pushback on the Genius Act from the banking lobby.

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<v Speaker 1>So the banks, you know, one of the things we've

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<v Speaker 1>talked about over the years is that they lobbied Elizabeth

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<v Speaker 1>Warren and Gary Genster to attack this industry. That's why

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<v Speaker 1>that old grandma was so crazy about crypto. Right the

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<v Speaker 1>country has so many other issues and problems, but she's

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<v Speaker 1>forming the anti crypto army. Gary Gentzer going crazy, breaking

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<v Speaker 1>the law and much more. They were being lobbied by

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<v Speaker 1>the big banks, Jamie Diamond and all these guys. Well,

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<v Speaker 1>the Genius Act has been passed obviously, and these banks

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<v Speaker 1>are trying to push back, like trying to say, oh,

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<v Speaker 1>we need to revisit the language in there. The reason

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<v Speaker 1>why they're doing this disruptions at their doorstep. So Blockchain

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<v Speaker 1>CEO Summer Mersinger, she actually wrote an op ed today

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<v Speaker 1>and she said the Genius Act is already law, banks

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<v Speaker 1>shouldn't try to rewrite it now. So one of the

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<v Speaker 1>things they blocked was, you know, you being able to

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<v Speaker 1>get yield four percent and so forth. And the reason

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<v Speaker 1>being is because you can just move your money out

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<v Speaker 1>of checking, put it into stable coins and earn more

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<v Speaker 1>than the BS interests that they're giving you in your

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<v Speaker 1>checking or savings. Right, So this is the disruption that's happening.

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<v Speaker 1>It's clear as day, and they're trying to fight. But look,

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<v Speaker 1>the crypto industry. The bill is already law, and the

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<v Speaker 1>crypto industry is going to fight back. And we see

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<v Speaker 1>this could be a delay tactic as well, because you

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<v Speaker 1>see all the banks are launching crypto trading, their own

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<v Speaker 1>stable coins, they're trying to get things up and running.

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<v Speaker 1>The problem is they don't have the Clarity Act right

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<v Speaker 1>to get a lot of these things into their systems,

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<v Speaker 1>so they're waiting for the legislation. But at the meantime,

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<v Speaker 1>because there's a much more friendlier environment in the United

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<v Speaker 1>States around crypto, more adoption of cryptos happening, so a

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<v Speaker 1>lot of these guys are like, oh my gosh, we

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<v Speaker 1>got to slow this down, right, because a lot of

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<v Speaker 1>firms are tokenized money market funds where you can earn yield,

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<v Speaker 1>So why the hell would you keep your money in

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<v Speaker 1>a savings and checking account. Now, don't get me wrong,

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<v Speaker 1>you need money in your bank account to pay your

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<v Speaker 1>bills and so forth. But my point is the people

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<v Speaker 1>are going to take more of their money out of

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<v Speaker 1>those bank accounts and put it into Web three, DeFi

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<v Speaker 1>and stable couins and much more. So that's why these

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<v Speaker 1>banks are now coming back to the table like, oh,

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<v Speaker 1>we need to revisit it, we need to do this. Yeah,

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<v Speaker 1>get out of here right. Disruption is happening. So I

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<v Speaker 1>love this article by Summer. You guys can certainly check

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<v Speaker 1>it out on coindesk. Now, look at this Bullish paves

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<v Speaker 1>the way for US launch with New York bit license.

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<v Speaker 1>If you guys recall Bullish, the institutional crypto trading platform,

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<v Speaker 1>they just went public. They did an IPO about a

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<v Speaker 1>month ago or a couple of weeks ago. Well, they've

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<v Speaker 1>got the coveted bit license, which is so hard to

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<v Speaker 1>get for many firms in New York. So many of

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<v Speaker 1>you often ask, hey, why can't I access this particular

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<v Speaker 1>exchange or platform in New York? Is because the bit license,

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<v Speaker 1>which is really dumb, So hopefully they remove it. So

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<v Speaker 1>Bullish the digital asset platform and infrastructure provider that debuted

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<v Speaker 1>on the New York Stock Exchange last month has secured

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<v Speaker 1>regulatory approval to expand its operation in the United States,

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<v Speaker 1>a key milestone as exchanges seek a clearer footing in

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<v Speaker 1>one of crypto's most scrutinized markets. Bullish announced Wednesday that

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<v Speaker 1>it's US arm Bullish US Operations, LLC, has been granted

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<v Speaker 1>both a bit license andy money transmission license by the

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<v Speaker 1>New York State Department of Financial Services. The approvals allowed

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<v Speaker 1>a company to offer institutional clients cryptocurrency, spot trading and

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<v Speaker 1>custody services in New York. The on rams being built

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<v Speaker 1>around the globe, but obviously here in the United States

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<v Speaker 1>and New York is a big one because of that

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<v Speaker 1>dumb bit license. But great to see Bullish got this

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<v Speaker 1>and that's certainly a big win for them. Moving ahead,

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<v Speaker 1>p top dot org becomes a validator on four trillion

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<v Speaker 1>dollars Canton Network. Now Canton Network you may recognize because

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<v Speaker 1>I just interviewed the CEO of Digital Asset, the firm

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<v Speaker 1>Digital Asset, which works on the Canton Network. That interview

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<v Speaker 1>was published seven days ago, and I told you, guys,

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<v Speaker 1>Canton Network, keep an eye on this project and I

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<v Speaker 1>may want to invest in the token once it goes

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<v Speaker 1>live because it's being backed by big banks like Goldman

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<v Speaker 1>Sachs and even Citadel and much more. And it's built

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<v Speaker 1>for institutions because it has privacy built in natively, so

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<v Speaker 1>this is great adoption news for them. Having p top

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<v Speaker 1>dot org become a validator on the Canton network is

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<v Speaker 1>a big win for them and launched in May twenty

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<v Speaker 1>twenty three, Canton is a blockchain platform developed to support

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<v Speaker 1>regulated institutions with emphasis on real world assets, tokenization, interoperability,

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<v Speaker 1>and adherence to compliance standard. The move adds p top

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<v Speaker 1>dot org, a staking infrastructure provider that reports managing over

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<v Speaker 1>ten billion dollars in assets across more than forty blockchain networks,

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<v Speaker 1>to a growing list of participants in Canton's eco system.

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<v Speaker 1>Listen to this including Goldman Sachs, JP, Morgan City, Santander,

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<v Speaker 1>Bank of America, HSBC, and BNP parabs. Recognize those name spokes.

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<v Speaker 1>Keep an eye on this project, and like I said,

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<v Speaker 1>I will tell you if I'm going to grab the

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<v Speaker 1>token when this thing goes live. But this is one

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<v Speaker 1>to watch because it's a public blockchain with privacy built in,

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<v Speaker 1>and look at the banks and the people participating, right,

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<v Speaker 1>So it's not I don't think this is on the

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<v Speaker 1>ratear many crypto investors and people in the industry, I

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<v Speaker 1>don't think they're paying attention. But I'm sharing it with you. Now, Obviously,

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<v Speaker 1>do your own research. This is not financial advice. I'm

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<v Speaker 1>just giving you the facts. I'm pointing you in the

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<v Speaker 1>direction of the facts and who's adopting the big names

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<v Speaker 1>and much more. So again, do your own research. Now,

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<v Speaker 1>Forward Industri's eyes up to four billion dollars share sale

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<v Speaker 1>to back Solona Push. So we get another publicly list

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<v Speaker 1>the company that is launching a digital asseid treasury strategies.

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<v Speaker 1>So Nasdaq listed company Forward Industries file for an at

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<v Speaker 1>the market equity offering program. Wow, that's a mouthful of

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<v Speaker 1>up to four billion dollars, giving the company flexibility to

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<v Speaker 1>sell shares over time to support its Salona focused treasury strategy.

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<v Speaker 1>On Wednesday, Forward Industries announced that the program will allow

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<v Speaker 1>it to issue and sell common stock through sales agent

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<v Speaker 1>Canter Fitzgeral. The offering is being made under an automatic

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<v Speaker 1>shelf Registration statement followed the us SEC, and automatic shelf

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<v Speaker 1>registration allows certain large publicly traded companies to quickly raise

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<v Speaker 1>capital with flexibility. So we're seeing companies getting creative here,

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<v Speaker 1>and folks, these digital acid treasury companies are I mean,

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<v Speaker 1>it's bullish what they're doing. They're buying the assets that

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<v Speaker 1>you hold. That's going to create a lot of supply

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<v Speaker 1>shock and scarcity for many of these tokens, and they're

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<v Speaker 1>buying billions of it. So this is where you want

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<v Speaker 1>to pay it. Who's buying, what are they buying, and

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<v Speaker 1>you want to make sure you're holding those assets. So

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<v Speaker 1>I hold Salon in my portfolio, I hold XRP bitcoin

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<v Speaker 1>e theorem, I'm diversified, and my portfolio is doing really

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<v Speaker 1>well as a result of those assets. So we continue

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<v Speaker 1>to see really really big stuff here. Here's another example, Metaplanet,

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<v Speaker 1>which is Japan's version of micro strategy or strategy. They're

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<v Speaker 1>expanding their bitcoin treasury strategy with new US Japan units,

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<v Speaker 1>so this is interesting. Metaplanet did Japanese hospitality and real

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<v Speaker 1>estate group turned bitcoin treasury companies, ramping up its crypto

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<v Speaker 1>strategy with the launch of two new subsidiaries, one in

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<v Speaker 1>the US and one in Japan. In a Wednesday post

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<v Speaker 1>on x the Tokyo based firm announced the establishment of

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<v Speaker 1>Metaplanet Income Corp, a wholly owned US subsidiary based in Miami,

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<v Speaker 1>with an initial capital of fifteen million dollars. According to

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<v Speaker 1>its disclosure, the unit will focus on bitcoin income generation

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<v Speaker 1>and derivatives trading, creating a structural separation between Metaplanets core

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<v Speaker 1>bitcoin home holdings and revenue generating operations. So again, these

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<v Speaker 1>folks are getting creative, they're expanding, They're doing a lot

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<v Speaker 1>of capital raises buying these assets. So very bullish, but

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<v Speaker 1>I do want to issue a word of caution that

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<v Speaker 1>you've probably heard me say before. A bubble is forming here.

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<v Speaker 1>So this is why you want to make sure you

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<v Speaker 1>have a plan that we are going to exit this

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<v Speaker 1>market before we hit the bear market in some of

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<v Speaker 1>these companies, not all. Some are not going to do well,

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<v Speaker 1>just going to be some blow ups, and it happens

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<v Speaker 1>in every bear cycle, right, So I don't want to

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<v Speaker 1>be holding any assets on the way down when this

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<v Speaker 1>is happening. So just again, I'm not hoping for this,

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<v Speaker 1>I'm not wishing for this happen. I just see the

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<v Speaker 1>writing on the wall, and I think many of you

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<v Speaker 1>will as well. When leverage is being used like this

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<v Speaker 1>at a high rate by many different companies, and everybody's

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<v Speaker 1>trying to raise to get their stock arbitrage, you know,

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<v Speaker 1>their price up from holding the asset. Something's not gonna

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<v Speaker 1>go right, and not every company's you know, ran the

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<v Speaker 1>same way at the same standard, same CEO, making the

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<v Speaker 1>right decisions things like that. So again, make sure you

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<v Speaker 1>put your thinking cap on here, and if you are

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<v Speaker 1>buying the stock of some of these companies, know what

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<v Speaker 1>you're doing right, because it's it's gonna get tough in

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<v Speaker 1>the bear market. Some, like I said, will do well,

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<v Speaker 1>especially those that have like proof of steak assets like

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<v Speaker 1>Ethereumarcellona on their balance sheet because they can keep earning

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<v Speaker 1>the rewards to the bear market. But you know, I'm

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<v Speaker 1>a bit concerned about the bitcoin companies because there's no yield,

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<v Speaker 1>natural yield baked in there. So anyway, I digress. Just

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<v Speaker 1>keep an eye out on this. But folks, shows not over.

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<v Speaker 1>Bull markets still on. Be patient. Things are moving in

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<v Speaker 1>the right direction. We are seeing mass adoption and building

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<v Speaker 1>like never before. And of course Congress getting ready to

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<v Speaker 1>get MARCRA structure bill pass into law, so it's going

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<v Speaker 1>to be an exciting queue four. In my opinion. That's

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<v Speaker 1>the news. Folks. Let me know what you think. Leave

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<v Speaker 1>your thoughts and comments below. A great way you can

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<v Speaker 1>support me is by subscribing to my free email newsletter.

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<v Speaker 1>It's one hundred percent free. Check out my book on Amazon,

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<v Speaker 1>it's available in paperback and digital, and my course at

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<v Speaker 1>mycryptocurse dot com. Folks, I appreciate you all, Thank you

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<v Speaker 1>so much for tuning in, and I'll talk to you

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<v Speaker 1>all later